!
1
C) LABOUR PEFORM.
D) FOREIGN INVESTMENT.
NEW LAYS TO STRENGTHEN
THE 22 REGULATIONS
ISSUED IN OCTOBER 1996, WHICH WERE AIMED AT IMPROVING THE LIVESTMENT ENVIRONMENT, CONTINUE TO BE ADOPTED.
E) A SYSTEM OF PERSONAL INCOME TAX HAS BEEN INTRODUCED.
4. BUT ACTION UNDER SOME OTHER POLICES HAS SLOWED:
F) PRICE REFORM.
1987 WAS TO HAVE BEEN THE YEAR OF THE THIRD INSTALMENT OF PRICE REFORM, BUT ON 14 JANUARY THE STATE COUNCIL ANNOUNCED ITS POSTPONEMENT.
G) SHARE ISSUES.
RECENT REGULATIONS HAVE EFFECTIVELY PUT AN END TO SHARE ISSUES TO INDIVIDUALS AND SEVERAL CURTAILER ISSUES TO
ENTERPRICES.
H) BANKRUPTCY. ALTHOUGH A TRIAL LAW HAS DEEN ADOPTED, IT IS NOT BEING IMPLEMENTED.
i
1) BOND MARKETS.
THE PROMISED SECOND
PY MARKETS HAVE NOT EVERGED.
5. AS PEGARDS AGRICULTURE, THERE HAS BEEN INCREASED EMPHASIS DURING RECENT MONTHS ON ENSURING CHINA'S SELF-SUFFICIENCY IN
SUCH A POLICY REQUIRES RESTRICTIONS ON THE PEASANTS'
PLANT CASH CROPS, DAMPENING THEIR ENTHUSIASM FOR PRODUCTION. ALSO ENTAILED AN INCREASE IN THE CUOTA AND ABOVE-QUOTA PURCHASE PRICES FOR ALL KINDS OF GRAIN.
IN ORDER TO PREVENT ANY PISE IN THE
PRICES CHARGED TO THE CONSUMER DY THE STATE, THE FOOD SUBSIDY APPROPRIATION IN THE CENTRAL BUDGET HAS BEEN INCREASED.
6.
THERE ARE OTHER AGRICULTURAL PROBLEMS WHICH REMAIN TO PE TACKLED. ONE IS TO GIVE THE FARMERS GREATER INCENTIVES TO INVEST THE IMPROVEMENT OF LAND RATHER THAN SPEND THEIR INCOMES ON HOUSING ANOTHER IS TO PREVENT ANY FURTHER FALL IN THE AND CONSUMER GOODS.
AMOUNT OF LAND AVAILABLE FOR CULTIVATION (URBAN AND RURAL CONSTRUCTION HAS BEEN SWALLOWING LAND AT A GREAT PATE DURING RECENT
YEARS).
PERFORMANCE.
THE TOTAL
UCT OF SOCIET
COMEST!
SS CENT
:
PRODUCT VICREASED BY
2 PERCENT
SEVERAL
SONE